The central bank had stopped such operations for four straight weeks. Its last reverse repo operation, which came on Dec. 24, released liquidity worth 29 billion yuan to the money market.

The yield for 21-day reverse repos stood at 4.7 percent, according to the central bank.

The liquidity injection came as rates for the seven-day repo and the Shanghai Interbank Offered Rate surged on Monday. Rates for overnight and seven-day products both rose sharply on Monday to 4.3 percent and 6.6 percent respectively.